TMI BlogRemoval of Goods without Payment of Duty / Concessional Rate of dutyX X X X Extracts X X X X X X X X Extracts X X X X ..... of excisable goods) Rules, 2001 (i.e. the exemption is based on end-use). The procedure for the buyer who intends to avail benefits of exemption notifications is as follows: 1. Application shall be made to AC /DC of Central Excise in quadruplicate in the prescribed form. 2. Separate application to be made for each supplier of such goods. 3. A bond should be executed in the prescribed form e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Amount of duty paid at concessional rate. 6. Recipient-manufacturer is also required to maintain a simple account showing: Description of goods Opening balance Quantity received Quantity consumed Closing balance Value of goods received Nature quantity of goods manufactured 7. Recipient-manufacturer is required to file monthly return in the prescribed form giving above de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oods are lost or destroyed during transport: Goods lost during transportation sent from supplier to the recipient-manufacturer or vice-versa during handling or storage it will be treated as 'not used for intended purpose' and hence duty liability (i.e. both differential duty and interest) becomes payable by the recipient-manufacturer. 3. Duty liability of intermediate goods: If some int ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al rate of duty for manufacture of excisable goods) Rules Cenvat availed by the supplier-manufacturer on the inputs used in the manufacture of such goods will get reversed or 'amount' of 10% of price will have to be paid as per cenvat provisions. 6. Supplier-manufacturer is required to record the removal details on the application such as: - Manuals - Ready reckoner - Law and practice ..... X X X X Extracts X X X X X X X X Extracts X X X X
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